1909 $10 PR66 NGC....
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Minimum Next BidBid increments determine the lowest amount you may bid on a particular lot. Normally, bids must be at least one bidding increment over the Current Bid. However, podium, fax, phone and mail bidders submit bids at various times without knowing the current bid and must be on-increment or at a half increment (called a Cut Bid). Any podium, fax, phone, or mail bids that do not conform to a full or half increment will be rounded up or down to the nearest full or half increment.
Internet bids are required only to bid the increment past the Current Bid, or more. Internet bids greater than one increment over the Current Bid can be any whole dollar amount.
It is possible under several circumstances for winning bids to be between increments. It is also possible for an existing bid to be outbid by less than a full increment, sometimes by only $1. This usually happens when two bidders feel that a lot is worth about the same amount, but one places an off-increment bid. Generally when this happens, the Current Bid was much lower than the high secret maximum bid when the off-increment bidder placed his bid.
For example: On Tuesday, you bid $1500 against Bidder A's Maximum Bid of $1000, raising Current Bid to $1100. Then on Thursday, Bidder B, seeing a Current Bid of $1100, guesses the final price and decides to bid $1501, outbidding your Maximum Bid by $1. You would now have to bid $1600 through Heritage Internet bidding or $1550 on Heritage Live (if available for the auction) to possibly win that lot. Next time, maybe you'll bid $1502 and outbid Bidder B by $1!
Number of BiddersThis number represents the number of individual bidders prior to the close of Internet bidding on each lot. An individual who bids more than once is still counted only once. During the live session, only the winning bidder is included in this number, although detailed records are kept of all forms of bids.
Reserve (If Any) Not Posted Yet:
Although many lots will not get reserves, this signifies that we have not yet posted any reserves to this entire auction. Reserves are usually posted approximately 3 days prior to the closing for Internet-only auctions, and approximately 7 days prior to the live session for Signature auctions. At that point, any unmet Reserve will become both the price shown (with an asterisk) and the Minimum Next Bid, regardless of any previous bids.
Consignor Has Not Yet Submitted a Reserve:
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This lot is being sold without a consignor reserve. (Note: By law, consignors may still bid under certain conditions, but they are responsible for paying the full Buyer's Premium and Seller's Commission if they do.)
Reserve Not Met:
A reserve has been posted on this lot, but no bids have met the reserve. The current bid has been set to the reserve amount, and the next bid will meet the reserve.
Reserves have been posted for this auction, and there is a reserve on this lot that has already been met.
Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
What's This?The owner of this item has indicated that they would sell this item at the amount, although their acceptance of your offer is required before the item can be purchased.
BP - Buyer's Premium per LotA Buyer's Premium will be added to each successful bid. For this sale: 15% of the successful bid (minimum $14) per lot. Please see #2 in our Terms & Conditions.
Not SoldThis indicates an item that did not sell at auction because it did not receive bids equal to or greater than the reserve (minimum bid) amount set by the consignor, or the opening bid.
Opening Bid:Lots bearing estimates and without Consignor Reserve shall open at Auctioneer's discretion (usually 25% to 60% of the low estimate).
Extended Payment Plan
Available on select items as noted on the item page in the bidding area.
- Minimum invoice total is $2,500.
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- Subject to a refundable 3% set-up fee, which will be paid as part of your 1st monthly installment. This fee will be refundable upon completion of the plan if the following conditions are satisfied:
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Terms and Conditions
Extended Payment Plan for Heritage Owned Inventory Items(excludes Virtual Bourse, Comic Market and Virtual Sports Show)
- Minimum invoice total is $2,000.
- You may take up to 6 months to pay the balance (monthly payments of at least 1/6th of invoice total).
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Note: The extra increment won't be placed until the item is up for live bidding, so it is possible that you could be outbid by a bid placed prior to live bidding, such as another proxy bid, live proxy bid, mail bid, etc., which could result in your losing the lot by that one increment. For the same reason, it is also possible that a currently losing bid with bid protection placed could potentially win the lot once the lot is subject to live bidding and the Bid Protection increment(s) is placed.
When the new dark matte proof gold coinage of the Saint-Gaudens design was introduced, the collector reaction was near-uniform condemnation.
The eagles debuted in 1907, and the proof eagles of that year are legendary rarities that Breen calls "so rare as to be controversial." Nonetheless, Jeff Garrett and Ron Guth, in their Gold Encyclopedia, enumerate one 1907 Rolled Edge, Periods satin proof and two 1907 matte proofs.
The year 1908 is the first for which proofs are relatively available, produced to the extent of 116 specimens. Although there are a few outliers, the most commonly seen finish is a dark matte finish, one that Dr. Robert Loewinger in his reference on proof gold calls "an olive dark matte finish." Garrett and Guth write that "orders for these coins were large, as the 1908 coins were the first Proofs generally available to collectors." After the outcry arose against their distinctive, dark, and olive-drab appearance, the Mint tried a compromise in 1909 and 1910, with the Satin or Roman finish proofs. Of the latter coins, famed early pattern collector-numismatist and future U.S. Treasurer William H. Woodin wrote:
"I am surprised at the statement that the dull finish of the gold proof coins was objected to by many collectors. If any collectors objected to this finish it was because they did not understand that the St. Gaudens [sic] designs are not adapted to the production of polished proofs. The present proofs of the St. Gaudens designs and of the Pratt designs are simply rotten. I know of no other word to express it."
Woodin preferred the dark matte finish--which could not be mistaken for circulation-strike coinage--to the lighter, somewhat ambiguous semibrilliant finish of the Roman coins, which appeared neither fish nor fowl, to Woodin's view.
In any case, with the passage of a century, collectors today treasure either the matte or Roman finish proofs. The present 1909 Roman finish coin in PR66 is among only eight specimens so certified at NGC, with six finer (10/10). Examples above this level are seldom offered. When we handled the Dr. Robert Loewinger PR66 NGC coin in 2007 (Heritage, 1/2007), lot 3139, it realized $51,750. The following year, a second example in the same grade sold in an October 2008 Stack's auction (lot 1078) for $69,000. A third PR66 NGC example in a Stack's auction sold earlier this year (8/2010), lot 1215, for $60,375. Finally, a PR67 NGC piece that we handled in our Los Angeles Signature (Heritage, 7/2009), lot 1313, brought a strong $74,750.
The present yellow-gold example presents delightful, pristine surfaces on both sides. The only markers we can find for pedigree purposes are a pair of tiny planchet chips out of the reverse field above the eagle's wing. Otherwise, the surfaces are uniformly fully struck, with no visible ticks or breaks in the thick, rich luster. An important proof gold coin of the Saint-Gaudens design.(Registry values: N7079) (NGC ID# 28HF, PCGS# 8891)
Service and Handling Description: Coins & Currency (view shipping information)
Revised Edition by James L. Halperin, Mark R. Borckardt, Mark Van Winkle, Jon Amato, and Gregory J. Rohan, with special contributor David W. Akers
The Coinage of Augustus Saint-Gaudens is an issue-by-issue examination of these two artistically inspired series of gold coins.
Each date and mintmark is reviewed with up-to-date information, much of which has never been previously published. The book is based on
two extraordinary collections: The Phillip H. Morse collection and the Dr. and Mrs. Steven L. Duckor collection.
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